Commodity Blog

Archive for September 7th, 2010

Copper prices fell today as the stronger dollar reduced demand for the metal as an alternative asset. The stronger US currency makes dollar-priced raw materials more expensive, decreasing their appeal. Copper also declined after a report that factory orders in Germany unexpectedly decreased. December delivery for copper slipped $0.059 (1.7 percent) to $3.441 per pound by 8:07 on COMEX.

Crude oil also dropped after dollar gained versus the euro on concern that European economy may deteriorate. German factory orders unexpectedly decreased by 2.2 percent in July. The Standard & Poor’s 500 Index slid 0.9 percent. October delivery for crude oil went down $1.01 (1.4 percent) to $73.59 per barrel as of 11:48 on NYMEX.

Latest commodity prices (ICE, NYMEX, CME) as of 16:41 GMT:

Oil (Brent) — $76.99
Gold — $1,257.01
Silver — $19.86
Palladium — $523.00
Platinum — $1,554.51
Copper — $7,615.00
Aluminum — $2,164.00
Nickel — $21,100.00
Zinc — $2,182.50
Cocoa — $2,669.00
Sugar — $21.39
Corn — $450.25
Soybean — $1032.75